The Uzbek government has put up for sale its 49% stake in chemical company Navoiazot and 35.9% stake in cement company Kyzylkumtsement on the Tashkent Stock Exchange, news website UzDaily.uz reported on March 12. State-owned railway company Uzbekistan Temir Yullari has also put up 15% of its shares for sale, according another report from UzDaily.uz from March 14.
The government is selling off its shares in the country’s companies as part of the new corporate governance code, which focuses on reducing the government’s shares in joint stock companies (JSCs), while setting a minimum requirement of a 15% stake belonging to foreign investors in each JSC. The measure is aimed at attracting foreign investment as well as further developing the government’s privatisation programme. The authorities are expecting to sell government-owned assets in 55 enterprises, which could yield up to $437mn, news agency Trend reported earlier, citing a presidential decree.
Related Articles
Report says explosion hit pipeline that delivers Turkmen gas to Russia, but Turkmenistan no longer sells gas to Moscow
Ukrainian outlet Kyiv Post on August 2 reported sources within Ukraine's Main Military Intelligence Directorate (GUR) as stating that an explosion in Russia disabled a section of ... more
New agreement provides for more than 1,000 weekly flights between Uzbekistan and Russia
Uzbekistan and Russia have struck an agreement under which the number of weekly direct flights between the two countries can be more than tripled to more than 1,000 per week, according to ... more
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
19 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago